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CIRCULAR No. 80/1999/TT-BTC OF JUNE 29, 1999 GUIDING THE MANAGEMENT OF PRECIOUS AND RARE PROPERTIES AND VALUABLE CERTIFICATES DEPOSITED AND PRESERVED AT THE STATE TREASURIES

Pursuant to the Government�s Decree No. 25/CP of April 5, 1995 on the tasks, functions and apparatus of the State Treasuries attached to the Ministry of Finance; the Ministry of Finance hereby guides the management of precious and rare properties and valuable certificates deposited and preserved at the State Treasuries (STs) as follows:

I. OBJECTS, SOURCES OF PRECIOUS AND RARE PROPERTIES AND VALUABLE CERTIFICATES PRESERVED AT THE STATE TREASURIES

1. Objects of preservation:

The STs shall keep in custody and preserve precious and rare properties as well as valuable certificates, under the provisions of this Circular, including: different types of gold, silver, precious metals, precious stones, antiques, the State�s precious objects, shares, bonds, credit bills, time bonds and national construction bonds, etc.

2. Precious and rare properties and valuable certificates preserved at the STs may come from the following sources:

- Being handed over to the STs by the State Bank, the ministries, the central-level branches and local specialized agencies by decisions of the Prime Minister or presidents of the People�s Committees of the provinces and centrally-run cities.

- Belonging to the State financial reserve funds, managed by the central government, provinces or centrally-run cities.

- Being seized by specialized agencies and pending handling decisions by competent authorities.

- Being confiscated for remittance to the State funds or placed under the State ownership.

- Being under the lawful ownership of State agencies, social and mass organizations and individuals that deposit them at the STs for preservation and custody.

- Other types of precious and rare properties as well as valuable certificates assigned by the State to the STs for management.

3. The STs shall not receive for preservation the following properties and certificates:

- Those which are not the precious and rare properties and valuable certificates.

- Those banned from trading and accumulation by law.

II. PRESERVATION FORMS

1. The STs shall receive for preservation precious and rare properties as well as valuable certificates in sealed-up bags and packages without checking their quantity, weight and quality in the following cases:

- The precious and rare properties and valuable certificates have been confiscated or temporarily seized by specialized agencies such as the police, procuracy, tax offices, customs authorities or rangers, etc., that have made records on the confiscation or seizure, packaging and sealing according to regulations.

- The precious and rare properties and valuable certificates under the lawful ownership of the State agencies, social and mass organizations as well as individuals, which are deposited at the STs for preservation without any request for checking, which is accepted by the STs.

2. For other cases, before the STs receive for preservation the sealed-up bags and packages of precious and rare properties as well as valuable certificates, they must be examined in terms of their quantity, weight and quality. The examination shall be conducted by the STs or the State specialized agencies at the witness of the ST representatives and property owners.

III. ORDER OF DELIVERY AND RECEPTION OF PRECIOUS AND RARE PROPERTIES AND VALUABLE CERTIFICATES
(hereafter referred collectively to as properties)

1. For a property-receiving ST:

1.1. To check all the papers before reception:

When depositing or remitting properties into the ST, the delivering party shall have to file an official dispatch (for agencies, units and social and mass organizations) or application (for individuals) applying for the deposit together with a detailed list of the to be deposited objects as well as the relevant papers proving the origin of each type of properties. More concretely:

a/ For property belonging to the State financial reserves:

+ The decision, issued by the competent authority on the remittance of the precious and rare property into the State financial reserve fund.

+ The record of examination of property quantity, weight and quality.

b/ For property temporarily kept in custody pending the handling decision of the competent agency:

+ The record of the seizure of material evidences.

+ The record (if any) of examination of property quantity, weight and quality.

c/ For property which have been confiscated for remittance into the State budget or over which the State ownership has been established:

+ The confiscation decision, issued by the agency competent to confiscate properties.

+ The decision or legal document establishing the State ownership, issued by the competent authority.

+ The record of confiscation of the objects or the dossier identifying the objects� origin.

+ The record (if any) of examination of property quantity, weight and quality.

d/ For property handed over by the State Bank and specialized agencies to the ST for preservation:

+ The record of the hand-over between the State Bank or a specialized agency and the Finance Ministry (the State Treasury).

+ The original dossier clearly determining the property origin and the reasons for confiscation.

+ The record of examination of property quantity, weight and quality.

+ The sum-up tables and handling dossiers (if any).

e/ For property being antiques of historical, cultural and artistic value and the State�s precious objects:

+ The record (if any) of examination of property quantity, weight and quality.

+ The dossier on the objects� origin.

+ The document, issued by the competent agency, assigning the objects to the ST for preservation.

f/ For property under the lawful ownership of State agencies, social and mass organizations and individuals: The relevant papers proving the origin of or the lawful ownership over such properties.

1.2. To receive properties:

a/ To receive properties without examination thereof, the ST shall have to comply with the following steps:

- For property temporarily kept in custody pending the handling by the competent agency:

+ Checking the seal to be sure that it does not disappear, is neither torn nor deformed in terms of the details thereon.

+ Checking the details inscribed on the seal such as: The name of the depositing agency, the name and signature of the person packing and sealing up the properties (the depositor) and the date of depositing�

+ Comparing the details on the seal with those in the confiscation record, ensuring that each sealed-up package conforms to each specific case. The agency which deposits the properties temporarily kept in custody shall have to pack and seal them up separately for each case. The ST shall not receive for preservation the properties of more than one cases in one sealed-up package.

+ The ST shall guide and witness the depositor him/herself packs and seals up the objects as prescribed. Each package must contain a delivery and reception record.

- For property under the lawful ownership of State agencies, social and mass organizations and/or individuals deposited at the ST without requesting examination, which is accepted by the ST: The depositor shall have to pack and seal up property packaged and/or bags by him/herself before putting them into the preservation boxes together with the inventory of properties as well as the delivery and reception record, under the guidance and supervision by the ST. The ST shall guide and witness the customer locks (with his/her own lock) and seals up the property box before handing it over to the ST for preservation.

Where the properties are deposited without examination, the ST shall not take responsibility for the quantity, weight and quality of such properties in the sealed-up packages. If the seal is lost due to the ST�s fault in the course of preservation, the ST shall be accountable therefor as prescribed by law.

b/ To receive properties with examination thereof, the ST shall have to comply with the following steps:

- Examining the properties: Depending on each type of property, one of the following examination methods may be applied: watching, testing, weighing, measuring, screening or counting objects one by one.

- Packing and sealing up: After the examination, the properties must be packed and sealed up as prescribed.

For property handed over by the State Bank, the ministries, the centrally-run branches and local specialized agencies to the ST for management by decisions of the Prime Minister or presidents of the People�s Committees of the provinces and centrally-run cities; property confiscated for remittance into the public funds; property being antiques or the State�s precious objects assigned by the State to the ST for management, the packing and sealing up thereof must be conducted by a property examination council. Clearly inscribed on the seal are the name and type, quatity, weight and quality of each object, the serial number of each package and box, the name and signature of the examiner and the date of packing.

1.3. Making delivery and reception record

A delivery and reception record must include all the following details:

+ The name of the agency or unit that deposits its properties at the ST (for agencies and units)

+ The depositor�s name and post (for agencies and units).

+ The depositor�s or his/her mandatary�s name, address and identity card number (for individuals)

+ The receiver�s name (the ST�s representative)

+ The name of the agency and the property examination council

+ The name, type, quantity, weight, quality and form of each type of property (for properties that have gone through examination); The name, type and form of each type of property (for properties that have not gone through examination); the name, type, par value and serial number (for valuable certificates).

+ The form of keeping in custody and preserving properties.

+ The date and place of making record.

The delivery and reception record must be made in 4 copies: one to be kept by the depositor, as the delivery-reception voucher; one by the ST�s accountancy section to make the warehousing bill and account settlement; one by the store keeper, as voucher attached to the dossier to be kept on file; and one to be kept together with the objects at the ST.

1.4. For properties under the lawful ownership of State agencies, social and mass organizations and individuals, which are deposited at the ST for preservation, in addition to the above-said delivery and reception record, the procedures for signing a preservation contract must also be carried out.

Such a contract shall include all the following details:

+ The name of the agency or unit, its transaction address and telephone number.

+ The name of the depositor or his/her representative; their addresses, identity card numbers and telephone numbers.

+ The name of the ST�s representative who receives the properties for preservation.

+ The trademark, code, signs, quantity, weight, quality and characteristics of the sealed-up packages or the characteristics of the preserved objects; the number of packages and boxes for preservation, the number of sealed- up packages.

+ The preservation duration.

+ The preservation form.

+ The preservation fee level, the form and time-limits for the payment thereof.

+ The parties� responsibilities: To determine the parties� responsibilities in cases where the preserved properties are damaged or lost.

+ The date and place of signing the preservation contract.

+ The other terms agreed upon.

The amendment or annulment of the property preservation contract must be agreed upon in writing by the involved parties.

2. For property-delivering ST:

a/ When delivering properties, the ST shall have to base itself on the following valid papers:

- The decision on taking out the properties from the financial reserve fund, issued by the Prime Minister or the head of the agency authorized by the Prime Minister (for the central financial reserve fund); and decision, issued by the president of the People�s Committee of the province or centrally-run city or the head of the agency authorized by the president of the People�s Committee of the province or centrally-run city (for local financial reserve funds).

- The decision, issued by the competent authority, on the sale of confiscated properties and properties over which the State ownership has been established.

- The decision on the handling (confiscation, requisition, re-purchase or return) of properties, issued by the competent agency, with regard to the properties temporarily kept in custody awaiting the handling.

- The decision, issued by the competent authority, on the hand-over of properties for management and preservation, in cases where such properties are antiques or the State�s precious objects.

- The official dispatch (for agencies) or application (for individuals) of the depositors of rare and precious properties at the ST for preservation, requesting the withdrawal whole or part of the deposited property ahead of time.

- The expired property preservation contract.

Apart from the above-said papers, when taking back the properties from the ST, the receiver shall also have to produce the following:

- The official dispatch, introductory letter, his/her identity card, letter of authorization (in case of authorization) for agencies, social, political and mass organizations; the written certification of inheritance right as prescribed by law (in case the property depositor dies).

- The identity card and letter of authorization (in case of authorization), for individuals.

- The delivery and reception record.

- The property preservation contract (if the properties are withdrawn ahead of time).

b/ Delivery of properties:

- When returning the properties, the ST shall have to check all the papers and fill the delivery procedures for the return and make record of the delivery and reception of the object in strict compliance with the regulations.

Before returning the properties, the ST shall have to request the depositor to check the sealed-up packages and bags. If there�s any suspicious signs, the two sides shall together make certification and a record thereof. The depositor may invite an expertise agency before opening the sealed-up packages by him/herself then check the seal of the property box therein to the witness of the ST�s representative(s).

Where the ST causes the loss of the seal on the property package, the two sides shall have to invite representative(s) of a law body to witness the examination and return of the properties.

In cases where a property preservation contract is signed, after returning the properties, the delivering and receiving parties shall have to carry out the procedure for the contract liquidation as prescribed. The ST shall have to recover the contract, the delivery and reception record and relevant voucher for archival purposes according to the current regulations. Where the object depositor wishes to take back part of the deposited property, the ST shall have to carry out the procedures to return all objects to the depositor, then carry out the procedures to receive back the objects which the customer wants to further deposit.

IV. RESPONSIBILITIES OF THE PARTIES IN THE DELIVERY AND RECEPTION OF PRECIOUS AND RARE PROPERTIES

1. The ST�s responsibilities:

- To open books of different kinds for recording and monitoring every property intake and release.

- To ensure absolute safety for the depositor�s sealed-up property packages, not causing any mistake, damage or change in the initial forms, quantity or weight of the properties. If causing any loss or damage, the ST shall have to make compensation therefor.

- To keep secret for the property depositor (if so requested).

- To guide the procedures and create favorable conditions for the depositors to deposit and take back their properties.

- To prepare sufficient means such as wrapping paper and strings for packing, bags and cases for preservation as well as other devices for examining the quantity, weight and quality of the properties�

- To promptly notify the depositor of the loss of seal, if any, on the preserved bag so that the latter may take handling measures and re-seal the bag.

- Annually, the ST shall have to make and submit a sum-up report to the Finance Ministry on the quantity of properties which have been dealt with by competent agency(ies) and, at the same time, propose measures to handle the properties which have been left in stock for a long time because their origins and owners are unidentified.

- The ST shall not take responsibility for any law breaches by agencies, units and/or individuals that deposit properties at the ST for preservation.

2. Responsibilities of the agencies, organizations and individuals that deposit their properties at the ST:

- To comply with the procedures and process for depositing and taking back objects at the ST.

- To be accountable before law for their lawful ownership over the properties deposited at the ST for preservation.

- To take responsibility for the whole quatity, weight and quality of their properties if the property boxes and bags are received back with seals thereon left intact.

- Where the depositing party loses the property depositing dossier, it must immediately notify it to the ST in writing so that the latter may take preventive measures. Then, the depositing party shall have to go to the ST�s head-office to produce the declaration on the loss of the property depositing dossier with certification by the Police or the local administration and fill the procedures for liquidation of the old contract and signing of a new one.

- In case of a change of the owner of the depositing party�s property, the depositing party shall have to immediately notify it in writing to the ST, ensuring the legality of the change so that the latter may know, handle and adjust the case.

- For property temporarily kept in custody and pending the handling and the property under the lawful ownership agencies, organizations and/or individuals, which are deposited at the ST for preservation, the depositor shall have to pay the preservation fee to the ST so as to partly make up for the basic depreciation of warehouses and preservation facilities as well as for the publication and printing costs�

The fee levels are prescribed as follows:

+ The property preservation fee: 0.05% (five ten thousandth)/the property value/month. The minimum collection level shall not be lower than 20,000 dong/box or package/month. The maximum collection level shall be 500,000 dong/box or package /month. For the national construction bonds, the preservation fee shall comply with separate regulations.

+ Where the preserved property�s value cannot be determined, the ST shall negotiate with the customer to agree on a reasonable fee level.

The customer shall have to pay the preservation fee to the ST right at the time of filling in the procedures to take back the property. In case of signing a property preservation contract, the customer shall not be reimbursed with the remaining fee amount, if he/she request the contract liquidation ahead of time.

Where the actual preservation duration is longer than the contractual time-limit, in addition to the prescribed preservation fee the customer shall have to pay a fine for warehousing equal to 0.1%/month, to be calculated on the property�s value.

- The ST shall not collect the preservation fee on properties under the State ownership or over which the State ownership has been established.

Annually, the ST shall base itself on the actual situation to make an expenditure estimate for the procurement of preservation facilities, then submit it to the Finance Ministry for consideration and ratification in order to make up for such expenditures.

V. ORGANIZATION OF IMPLEMENTATION

1. The properties shall be received and preserved at the Central ST and the STs of the provinces and centrally-run cities.

The district STs shall receive and preserve properties only after having warehouses and preservation facilities and obtaining a written consent from the directors of the provincial/municipal STs directly managing them.

2. This Circular takes effect 15 days after its signing and replaces Finance Ministry�s Circular No. 63-TC/KBNN of November 9, 1991 as well as other legal documents which are contrary to the guidance herein.

3. The heads of the agencies and units having properties preserved at the STs; the heads of the finance agencies and the STs of all levels shall have to implement this Circular.

For the Minister of Finance

Vice Minister
NGUYEN THI KIM NGAN